Financial Review

…Stocks fall off the cliff in afternoon trade. Blame it on the loco Fed. Banks kick off earnings tomorrow. CPI inflation inches higher – COLA higher. Financial Review by Sinclair Noe for 10-11-2018 DOW – 545 = 25,052 SPX – 57 = 2728 NAS – 92 = 7329 RUT – 30 = 1545 10 Y – .09 = 3.13% OIL – 2.18 = 70.99 GOLD + 29.20 = 1224.60   After yesterday’s crash, Wall Street pros are debating whether the current slide is signaling more severe problems for a bull market that is more than nine years old. The answer is yes, we just don’t know when and how those problems will manifest. There was a concern that prices would crater on the open – that didn’t happen. Stocks opened lower but nothing significant; prices drifted lower throughout the session and there was even some buying in bonds, sending the yield on the 10-year note lower. So, this was a risk-off session but no sign of panic, at least until about 2PM Eastern time. At which point prices drifted below certain key technical levels, and the algorithms kicked in and …